CGI (NYSE:GIB) Downgraded by CIBC

CIBC lowered shares of CGI (NYSE:GIBFree Report) (TSE:GIB.A) from a sector outperform rating to a neutral rating in a research report released on Friday morning, MarketBeat.com reports.

A number of other analysts have also recently weighed in on the stock. StockNews.com cut shares of CGI from a buy rating to a hold rating in a research note on Monday, March 11th. TD Securities upgraded shares of CGI from a hold rating to a buy rating in a research note on Thursday, May 2nd.

View Our Latest Research Report on GIB

CGI Stock Performance

Shares of GIB stock opened at $99.58 on Friday. The firm’s 50 day moving average price is $102.15 and its 200-day moving average price is $107.40. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.86 and a current ratio of 1.17. CGI has a one year low of $93.07 and a one year high of $118.89. The firm has a market cap of $22.98 billion, a P/E ratio of 19.19, a P/E/G ratio of 2.31 and a beta of 0.95.

CGI (NYSE:GIBGet Free Report) (TSE:GIB.A) last announced its quarterly earnings data on Wednesday, May 1st. The technology company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.02. CGI had a net margin of 11.38% and a return on equity of 20.43%. The company had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.79 billion. As a group, equities research analysts predict that CGI will post 5.57 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GIB. Hexagon Capital Partners LLC boosted its stake in shares of CGI by 297.1% in the fourth quarter. Hexagon Capital Partners LLC now owns 270 shares of the technology company’s stock valued at $29,000 after purchasing an additional 202 shares during the period. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of CGI in the first quarter valued at $30,000. Group One Trading L.P. purchased a new position in shares of CGI in the third quarter valued at $36,000. UMB Bank n.a. boosted its stake in shares of CGI by 9,916.7% in the first quarter. UMB Bank n.a. now owns 601 shares of the technology company’s stock valued at $66,000 after purchasing an additional 595 shares during the period. Finally, CWM LLC boosted its stake in shares of CGI by 19.1% in the first quarter. CWM LLC now owns 1,185 shares of the technology company’s stock valued at $131,000 after purchasing an additional 190 shares during the period. 66.68% of the stock is currently owned by hedge funds and other institutional investors.

CGI Company Profile

(Get Free Report)

CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services. Its services include the business and strategic IT consulting, systems integration, and software solutions. The company also provides application development, modernization and maintenance, holistic enterprise digitization, automation, hybrid and cloud management, and business process services; intellectual property-based solutions; business consulting; managed IT services; and IT infrastructure services.

Further Reading

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